Odaily Daily Planet reports on virtual currency fraud case: 8-member gang induced investors into full leverage trading and were sentenced

According to the Shanghai Yangpu District Procuratorate, they disclosed a virtual currency fraud case. The case shows that an 8-person scam gang colluded with a virtual currency earn platform, posting low-price swap information on social media to attract victims, and impersonated "cryptocurrency trading experts" by sending forged profit screenshots to gain trust. The gang induced victims to perform full leverage trades on designated platforms, and manipulated the marketplace to cause "get liquidated," earning commissions from the platform based on investors' losses. The case involves numerous people and a large amount of money. In March 2025, the Yangpu District Procuratorate filed criminal charges of fraud against Peng Moumou and others. Between April and May, the court sentenced them to imprisonment ranging from 1 to 5 years and imposed fines. The prosecution reminds that virtual currency does not have the same legal status as legal tender; related investment trades are not protected by law, and investors should conduct earn through正规渠道. #虚拟货币诈骗案